WH Group Limited — Earnings Release 2000

Aug 18, 2000

Listed Company Information

HUEY TAI INT'L<0164> - Results Announcement Huey Tai International Limited announced on 18/8/2000: (stock code: 164) Year end date: 31/3/2000 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 693,899 350,901 - Discontinued : - - Operating Profit/(Loss) - Continuing : (15,222) (680,322) - Discontinued : - - Total Operating Profit/(Loss) : (15,222) (680,322) Share of Profit/(Loss) of Associated Companies : 86,503 (189,866) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 18,533 (676,939) % Change over Last Period : N/A EPS/(LPS)-Basic : 1.18 cents (43.24 cents) -Diluted : 0.91 cent (43.26 cents) Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 18,533 (676,939) Final Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: (1) HK$156,000 management fee received and receivable from an associated company which was grouped in "Share of Profit / (Loss) of Associated Cos." and the exceptional item - loss of HK$220,723,000 for the year ended 31st March, 1999 have now been reclassified and grouped in "Operating Profit / (Loss) - Continuing" in accordance with the revised Hong Kong Statement of Standard Accounting Practice No. 1 "Presentation of financial statements" issued during the year 31st March, 2000. (2) Earnings (loss) per share The calculation of the basic and diluted earnings (loss) per share for the year is based on the following data: Profit (loss) attributable to shareholders: Year ended 31st March, 2000 1999 HK$'000 HK$'000 Earnings (loss) for the purposes of basic earnings (loss) per share 18,533 (676,939) Effect of dilutive potential ordinary shares: -adjustment to the share of result of Asean Resources Holdings Limited based on dilution of its earnings (loss) per share (3,604) (206) -adjustment to the share of result of an associate based on dilution of its earnings (loss) per share (618) (36) ------------ ------------ Earnings (loss) for the purposes of diluted earnings (loss) per share 14,311 (677,181) ========= ========= Number of shares Year ended 31st March, 2000 1999 Weighted average number of ordinary shares for the purposes of basic earnings (loss) per share 1,564,735,970 1,565,434,013 Effect of dilutive potential ordinary shares in respect of share options 1,989,062 - ------------------------------ Weighted average number of ordinary shares for the purposes of diluted earnings (loss) per share 1,566,725,032 1,565,434,013 ============= ============== Notes: For the year ended 31st March, 2000, the computation of diluted earnings per share does not assume the conversion of the Company's convertible guaranteed bonds which are fully redeemed in February 2000 and outstanding convertible redeemable notes since their exercise would result in an increase in earnings per shares from continuing ordinary operations. The computation of diluted earnings per share also did not assume the conversion of the Company's outstanding share options which were lapsed in October 1999 as the exercise price is higher than the fair value per share. For the year ended 31st March, 1999, the computation of diluted loss per share did not assume the exercise of the Company's outstanding share options as the exercise price is higher than the fair value per share. Also, the computation did not assume the conversion of the Group's outstanding convertible guaranteed bonds since their exercise would result in a decrease in loss per share from continuing ordinary operations.